Stocks to watch: Frasers Centrepoint Trust, Frasers Hospitality Trust, Memories Group

THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 13):

Frasers Centrepoint Trust (FCT): Its trustee has entered into 2 agreements to acquire an additional 10 per cent interest in Waterway Point, a 4-storey suburban mall in Punggol, for S$132.3 million. Through both these deals, FCT will raise its effective interest in Waterway Point from 40 per cent to 50 per cent. FCT units closed flat at S$2.29 on Monday, before the announcement.

Frasers Hospitality Trust (FHT): The stapled group’s privatisation has been scuttled after it failed to garner the mandatory approvals from stapled securityholders at a scheme meeting on Monday, with only 70.91 per cent of stapled securityholders representing 74.88 per cent of units voting in favour of the proposed scheme. FHT closed 0.7 per cent or S$0.005 higher at S$0.705 on Friday. The managers called for a trading halt on Monday morning, which has since been lifted.